By now, it is passé to warn that the US Federal Reserve is “behind the curve” in fighting inflation. In fact, the Fed is so far behind that it can’t even see the curve and may have to slam on the policy brakes to regain control before it is too late.
NEW HAVEN – The US Federal Reserve has turned on a dime, an uncharacteristic about-face for an institution long noted for slow and deliberate shifts in monetary policy. While the Fed’s recent messaging (it hasn’t really done anything yet) is not as creative as I had hoped, at least it has recognized that it has a serious problem.
NEW HAVEN – The US Federal Reserve has turned on a dime, an uncharacteristic about-face for an institution long noted for slow and deliberate shifts in monetary policy. While the Fed’s recent messaging (it hasn’t really done anything yet) is not as creative as I had hoped, at least it has recognized that it has a serious problem.